Jan 14, 2018 Hi friends, in this video i am going to tell you about dogecoin mining website which can help you to mine free doge. A Dogecoin Mining Software Comparison to help you choose the right software for your Dogecoin Mining Hardware. Dogecoin Mining Software. Dogecoin Mining Software. SPECIAL: Need to buy more Dogecoin? Just found this super informative vid that can teach any newbie how to buy Doge!!

Dogecoin Mining Software To mine Doge (or other cryptocurrencies), your computer basically does hard math and is rewarded with coins. A more detailed explanation of what is going on can be found. You will have upfront hardware costs and electricity costs but the mining process is free. • Cgminer is the best mining software for all scrypt based currencies, including Dogecoin. HTMLCOIN HTML Mining List. You’ll want to download version 3.7.2 as it is the last version that supports Scrypt mining. Here’s a direct link to the download page. Since cgminer uses a command-line-interface (CLI), you will want to create a.bat file or.conf file with the configurations for your cards.

A ‘batch file’ as it is called is the simplest to setup. Simply open Notepad or another text editor and change the.txt in the file extension to.bat. Right click on the.bat file and select ‘edit. You can then edit your settings to look something like this: cgminer --scrypt -o stratum+tcp://poolurl:xxxx -u xxx -p x -I 20 --thread-concurrency 21712 • NVidia Best for mining with Nvidia graphic cards • CPU Best for mining with CPUs. However, CPU mining in general is not effective. Dogecoin Mining hardware You can find some good advices.

We are just using gaming computers we already owned, but some people go out of their way to build mining rigs. In terms of hardware efficiency, AMD graphic cards are better than Nvidia graphic cards, and both are much better than CPU mining. We do not recommend using laptops or all in ones, like iMacs, as they are very closed systems. It is harder for them to dissipate heat and they are more difficult to repair. While we don’t have any experience building mining rigs, we found this guide with template builds.

The general goal is to get multiple powerful AMD graphic cards with bare-bones everything else (to reduce electricity costs). Here is a comparison of specific card performance. Thanks to the mining craze, you will have to pay top dollar for the popular cards (if you can even find them in stock) but this site may help with your search. Learn more: consumer computer parts and their importance to mining. You can also mine with virtual servers (such as Amazon EC2), which have no upfront hardware cost but bill by usage. However, they are more difficult to set up and we do not think these are cost effective anymore (better to just buy Doge outright).

In fact, a shibe named Grant Ammons wrote up his experience losing money. Here is a guide we found if you want to go this route anyways. Warning: before mining with your own hardware, you must understand that the computations will cause your hardware to work hard, greatly increasing their temperatures and speeding up wear and tear. It is important that the fan speed is also increased to maintain a target temperature range. Mining software like cgminer can control the fan in most cases, otherwise software like AMD’s catalyst control center (CCC) can be used but it varies from card to card. Sometimes even CCC will not have the required functionality. What is a good temperature?

We like to keep our cards at ~70 degrees Celsius and below, although some people are comfortable with going to 80 degrees Celsius. The fans will be very loud, so balance annoyance with mining power. Higher temps = more risk of permanent damage.

Cgminer has a temperature reading and other software, such as Catalyst control center or gpu-z, will as well. Software (free). The most popular software for mining is cgminer, cudaminer, and guiminer. Download links are below. Download For Notes CGminer *windows zip *linux 64 bz2 *linux 64 lrz AMD, Nvidia, CPU Best for AMD.

Do NOT download the latest version of cgminer (3.10+). The latest versions removed support for graphic cards and are only for ASIC hardware. The latest version you can get for Dogecoin mining is 3.7.2. “cgminer-3.7.2-x86_64-built” is for Linux, not Windows. *prebuilt files were removed from the source, so I am hosting them* CUDAminer Nvidia Best for mining with Nvidia graphic cards. CPUminer CPU Best for mining with CPUs.

However, CPU mining in general is not effective. GUIminer AMD, Nvidia, CPU While the page says Litecoin, Litecoin and Dogecoin are both scrypt based so it works with Dogecoin. Easiest to setup, but may not be the most efficient. Note: for our guide, we mine in a pool using cgminer with an AMD card in Windows. We hope to eventually write guides for other miners / operating systems. Solo mining vs. Mining rewards are random.

You are basically searching for blocks, then solving and confirming the block for a reward. Currently the payout is up to 1,000,000 coins per block, but over time the reward max amount is halved. The first to find and confirm the block gets the full payout of that block and everyone else has to move on.

Stronger hardware = faster searching and confirming. From an overall long term view, if you are 0.001% of the computing power overall you should be able to get ~0.001% of the payout overall (less likely to find and confirm blocks, but get 100% of the block payout when it happens). But this is a theoretical long term view, and smart shibes will team up with other shibes then split the rewards (more likely to find and confirm blocks, but split the block payout amongst the team). It is better to get consistent and frequent payouts so team up. To team up with other shibes you can, 1: join a pool or 2: join a p2pool. We went with option 1 but have heard good things about option 2. However I have read if your hash rate is low, joining a p2pool is not worth it (not personally verified). Joining a pool.

To join a pool, select one from the following lists and sign up for an account. Larger pools are more consistent in payouts, but also consider fees or any other perks (such as bonuses for finding a block).

All the pools we tried have the same general interface. • Doktorrf pool directory (sortable) • Doge pool directory Warning: if you sign up for multiple pools we DO NOT use the same passwords. If a pool is hacked or has malicious intentions, the attackers will surely try the usernames and passwords on other pools. Making workers Once you joined a pool, login to their web page. You need to create a worker for each graphics card / cpu you have mining. Select “my workers” on the left, which is usually under “my account”.

On your worker dashboard, there will be an option to create a new worker. Give the worker a user name and password. Once you’ve added your new worker, you should see it added to your list.

Repeat for as many graphic cards / cpus you plan to have mining and note the usernames and passwords. You can always come back to this page if you forget.

Now go to “Getting Started”, which is usually under “Home” or “Help”. All the pools we’ve joined will have at least one stratum with a corresponding port number.

Setting up cgminer (AMD hardware on Windows). As we mentioned, we will be going through this process with cgminer 3.7.2 on Windows with AMD cards as that is what we own. First, ensure you have the latest drivers for your graphics card by downloading them here. If you need help determining what graphics card you have, go to your device manager (control panel >hardware and sound >device manager) and look under “display adapters”. After you have installed the latest drivers, grab the AMD SDK. Once the SDK is installed, extract your downloaded cgminer file (link in the software section) to a location you can remember.

Next, open up notepad and paste the following, replacing your-pools-stratum, port-number, web-login, worker-name, and worker-password with your information: setx GPU_MAX_ALLOC_PERCENT 100 cgminer –scrypt -I 13 –temp-target 70 –gpu-fan 10-70 -o stratum+tcp://your-pools-stratum:port-number -u web-login.worker-name -p worker-password It is basically saying use 100% of your gpu, scrypt mode (gpu mining), intensity of 10, target temperature of 70, gpu fan speed at 10-70%, then the stratum connection and worker information. Be sure to watch the temperature even with the fan settings, some cards do not respond to these commands. -I (capital i) controls the intensity.

The max is 20, but test the waters before tweaking this. The higher you go the less responsive your computer gets, so don’t set it high if you plan to actually use your computer when mining. Overclock.net forums describes other useful gpu settings, such as “–temp-cutoff 85” (max temperature until cgminer stops) and is worth a read. Now go to save as, navigate to your cgminer folder, and select the all files dropdown (this lets you save it as a *.bat file instead of a *.txt). Then save it as “whatevernameyouwant.bat”.

This makes a Windows batch file which runs cgminer.exe with the provided commands. You can close notepad. Now run the batch file you created and it should work if it is in the cgminer-3.7.2-windows folder (assuming the default folder name). It may complain about unsafeness or require permission to go through the firewall, but this is ok. Run it anyways and let it through!

This is an example of what you should see if it is successful. Note the GPU temp, hash rate (number next to Kh/s), and HW value. Temperature indicates how hot your card is getting, hash rate is its performance, and HW is hardware errors. We want HW to be 0, so reduce the intensity (ex: -I 10) if it gets too hot or has any HW errors. For some reason, some people get a blank window with no output.

If this occurs try closing the window, adding “-T” to your batch file (which tells it to go into text mode), and rerunning the batch file. To quit, hit Q or Ctrl + C or click the X. If the batch file fan control commands do not work, AMD’s CCC may have an OverDrive option which lets you manually set fan speed.

Below is what my CCC looks like. What if my pool stratum fails? Pools often provide multiple stratums and you can join multiple pools. You will want to configure the cgminer so that it switches if the current stratum fails with –failover-only followed by -o and the alternative stratum information.

For example: cgminer –scrypt -I 13 –no-submit-stale -o stratum+tcp://stratum.rapidhash.net:3333 -u Weblogin.Worker -p Worker-password –failover-only -o stratum+tcp://stratum2.rapidhash.net:3333 -u Weblogin.Worker -p Worker-password Further tweaking, such as overclocking, is beyond the scope of this guide but /r/dogecoin has some guides on the sidebar. If you are curious, this is what I use with a Radeon HD 6970 to get ~500Kh/s at ~70 deg C: cgminer -I 18 -w 256 –temp-cutoff 90 –temp-overheat 80 –temp-target 75 –gpu-fan 10-85 –no-submit-stale -o stratum+tcp://some-pool.com:1234 -u howtodogecoin.worker1 -p workwork1 –failover-only -o stratum+tcp://stratum.some-other-pool.net:4321 -u howtodogecoin.worker2 -p workwork2 Receiving your mined coins. Doge Coin is the newest cryptocurrency, a new type of money that exists only on the internet through computers like yours. New coins are mined everyday and you can start mining coins right now in just a few minutes with this free automatic Doge Coin Mining software package. It”s all setup all you need to do is run it. Doge Coin has already passed Bitcoin to be the most traded online cryptocurrency in the world. Wow is what you”re going to say when you see how easy it is to mine and use this software.

Automatic Doge Coin Miner is a free software application from the Other subcategory, part of the System Utilities category. The app is currently available in English and it was last updated on 2014-01-22. The program can be installed on WinXP, WinVista, WinVista x64, Win7 x32, Win7 x64, Win2000, WinNT 4.x, Windows 8.

Automatic Doge Coin Miner (version 1.7) has a file size of 534.23 KB and is available for download from our website. Just click the green Download button above to start. Until now the program was downloaded 7908 times. We already checked that the download link to be safe, however for your own protection we recommend that you scan the downloaded software with your antivirus.

How to mine dogecoins Dogecoin Review Is Doge Coin Most Profitable Altcoin? Lately, I’ve been trying to earn some money by mining the Bitcoin alternatives, Dogecoin. After creating a Guide on How to Start Mining Quarkcoins I made a Guide for How to Mine Litecoins on Windows. The Problem with Litecoins and Quark Coins is that i want to mine the Most Profitable Altcoin. So is Most DogeCoin Profitable Altcoin?

According to Coinwarz it keeps topping the list of Most Profitable coins for the last Month this may change as new coins come out as Coinye and others come out. But as of now Yes Dogecoin is the most Profitable AltCoin! If you have spare AMD Radeon graphics cards lying around, and energy rates that aren’t stratospheric, mining a peer-to-peer digital currency known as Dogecoin(think of it as silver to Bitcoin’s gold) is within your grasp. Earlier this week I published a hardware guide as a reference for miners new to the scene, but the following guide should get Windows users up to speed regardless of dedication level or investment level. Dogecoin is a peer-to-peer Internet currency that enables instant payments to anyone in the world. It is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware.

Dogecoins provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have. The Dogecoin network is scheduled to produce 84 million currency units.

ZClassic ZCL Mining Module here. One of the aims of Dogecoin was to provide a mining algorithm that could run at the same time, on the same hardware used to mine bitcoins. With the rise of specialized ASICs for Bitcoin, Dogecoin continues to satisfy these goals.

It is unlikely for ASIC mining to be developed for Dogecoin until the currency is widely used. What is Mining? For those of you not familiar with the mining process, here’s a simple explanation of how it works: All cryptographic coin networks structure themselves around blocks, which contain hashes. A hash is an encrypted chunk of information that, when successfully solved, or decrypted, awar ds the cracker a number of coins – the exact amount varies by the type of cryptocurrency. The network registers coin ownership through the Blockchain, which records all transactions on the network. You can then trade these coins for other currencies or goods.

On the downside, Bitcoin alternatives are not universally accepted at all exchanges, so mining an unpopular currency may simply waste your time and money. Check out Cryptsy exchange, if you want to get in to Alt-coin Trading. For those of you willing to take a risk, continue reading, at the end if you just want to start Earning $$ or Dogecoins Follow these Steps What Hardware do I need to Mine Dogecoin? You will need a ATI / AMD Video Card Generally you will want to spend $100 or more on it within the last 2 years, the Higher end Card you have the faster you will Mine Dogecoins on Windows. If you know what video card you have you can see what sort of K/Hs per second you will get at the mining hardware wiki.

Then you can figure out how much $$ you will earn at the Coinwarz Dogecoin Calculator. If you don’t have a Good Graphics Card but still want to Mine Dogecoins Please try the CPU Mining Guide, and you can still Mine for DogeCoins. You will just Mine much faster with a Graphics Card. If you have Antivirus it will be pickup and auto removed before you can click on it to open, all Bitcoin Miner Software is Picked up as Virus. The Reason being is they are used by Botnet’s a lot to get Coins from Zombie Computers. Since you are bitcoin Mining you will need, Disable your Antivirus for like 15 minutes and add c:Dogecoin to your Exclude from Scan’s.

If you want to Verify it’s not a virus download the Zip Version of Simple Dogecoin GUI Miner or look at the Code, it was Built with AutoIT. I also recommend SandBoxie if you are trying out software and are unsure if it’s save or not. How to Exclude a Folder Depending on your Antivirus Software. ( Exclude Folder c:Dogecoin) Exclude on ESET Exclude on Norton Exclude on Mcafee If you have another AV, just search google “exclude a file or a folder from scan (name of Antivirus)” 4.) Download Dogecoin GUI Miner. Within 4-8 Hour you should start getting Dogecoins, you can monitor Payout status here. If you want to Stop the Process or Program. Go to c:DogecoinsetupD.exe and click End Process.

Or open Task Manager Ctrl+Shift+Esc and close cgminer.exe and ProcesD.exe More Computers more Dogecoins! Tell your friends, How to mine dogecoins! You can do this same thing on as many computers as you want the more computers you install it on the more Dogecoins you will get.

If you enjoyed my Guide send me a Dogecoin or two, Now you know How to mine Dogecoins! Address: DBJMqinPqbQmQEtjN5tZ3kNkAyYUL9mj8e I also recommend you Stop your Computer from Sleeping so you can mine while you are sleeping, also stop the Harddrive from Sleeping. 9.) Optional – Fixing Issues with Miner. Sort of a Pain but worth it to get your system Mining Dogecoins!

If you have any programs during Step 6.) testing the Dogecoin Miner for some reason the software has issues with Some ATI Drivers to Fix follow the steps below. 1.) Uninstall ALL ATI Software, go to add/remove programs, Click Change the AMD Catalyst, Express Uninstall ALL AMD Software, after finished, Restart Computer 2.)Right click this link to ATIRemoval.Bat, Then Save As ATI.Removal.bat 3.) Then Right click on downloaded Location and Run as A dministrator, type Y and Enter to anything that pop’s up. 4.) Download ATI 13.1 64Bit Works for Vista/7/or/8 for and ATI 13.1 32bit XP/Vista/7/8 5.) Installed restart computer. 6.)Download AMD SDK 2.9 and install then restart computer. 7.) Go back to Step 6, Open c:DogecoinSetupC.exe If it still does not work your Video Card might not be supported I would go to Newegg.com and upgrade check out mining hardware wiki for which cards are good or try getting your feet wet by mining Quarkcoins.

Now that you know How to mine Dogecoins, Please As any Questions I will be more than happy to try to answer them! First 50 People, to Post a Picture of there Mined Dogecoins with this Software. I will send you some more Dogecoins as a Job Well done! Make sure to post where you want me to send Coins. Other Great Sites to Checkout. As bitcoin mining increasingly becomes more of a professional pursuit, hobbyists and newcomers have turned their attention to scrypt mining.

So, at CoinDesk, we wondered, ‘why not try scrypt mining ourselves?’ Watch the video to see how well we fared:. We got our hands on a Gridseed G-Blade miner, one of the first scrypt miners in the market to use ASIC chips. ASIC chips have been used to mine bitcoin for over a year, now they are making their way into scrypt mining. That’s making scrypt even more attractive to newbies. MinerEU is the European distributor for the China-based manufacturer Gridseed. CEO and co-founder Jing Wei explains why it is easier to get into ASIC scrypt mining: “The clear advantage of scrypt ASIC mining is lower power consumption.

It’s scalable: you can even set up a mining farm at home. It’s also very easy to set it up. We have streamlined the process.

[] In a few minutes you can connect all the parts together.” It is easier and faster to make money from altcoins rather than investing in expensive and industrial bitcoin mining equipment. Mining equipment manufacturers have already announced refined scrypt-mining equipment. While Gridseed G-Blade is one of the first to be launched on the market, KnCMiner has already announced their plans to launch their scrypt miner Titan. Mining Adventures at CoinDesk. Each Gridseed G-Blade miner has two boards with 40 GC335 ASIC chips on each one. This $1,600 miner promises a total hashrate of 5.2M.

We brought two of the two-blade miners into the office. Including installing the relevant software, it took us about an hour to set them up. But, now that we’ve done it once, next time would definitely be quicker. Depending on what you decide to mine, the return on investment of these miners is three to six months.

We decided to mine dogecoin and managed 100,000 doge with two miners in a week. That’s not a bad start to our scrypt mining career, but it’s certainly possible to improve on the ROI by using the multipool. Wei says: “In theory the smart switching technology should give you a higher return that mining one type of alternative coin, but the problem with that is the switching process. If we switch it over from one coin to another, the calculation power will be lost during the transition.” While we’ve parted with the miners, we’re still working out what to do with our $58 worth of dogecoin – suggestions welcome in the comments below. Dogecoin (DOGE) Mining Guide Version 1.10.0. Your wallet is where you’ll keep your Dogecoins. It’s pretty easy to set up, head on over to dogecoin.com and get the GUI wallet.

Once you start the Wallet it’ll need to take a few minutes to sync. Give it time, this could take anywhere between 5 and 30 minutes. If your wallet syncs, move on to step two! If your Wallet never syncs there might be something wrong. Close the wallet and navigate to C:Users[YOUR ACCOUNT]AppDataRoamingDogeCoin and create a new file called dogecoin.conf. In that file you’ll want to put rpcuser=doge rpcpassword=wow addnode=67.205.20.10 addnode=162.243.113.110 rpcport=22555 server=1 daemon=1 Once saved, try again. Get an address: Now that you have a wallet you’ll need an address so people (or pools) can actually send you Dogecoins.

This is easy to do from your wallet. On the top bar click “Much Receive” and then on the bottom of the wallet click “New Address.” Give it a label and poof you’re done.

This 32-character string is how your wallet becomes public. You’ll use it for all transactions from here on out. Think of it as your deposit box. Mining software: Now you’re prepared to receive Dogecoin. But now you need to actually mine it, which is a little harder and dependent upon your setup. What you decide to use to mine is dependent upon what hardware you’re running. If you’ve got a fancy AMD, you can use CGminer, if you haver a NVidia, you can use CUDAminer.

If not, CPU mining is fine too. Once you’ve made your choice you’ll need to download the software itself. Don’t have any hardware? Take a look at our mining guides.

Purchase the necessary hardware and build a scrypt mining rig. A brief tutorial for cgminer would be: grabb any version before 3.8 like 3.7.2. Then go to your pool and make a new worker. Make a new file in the same directory as cgminer, call it something like wow_much_hashes.bat, and then use nano it to edit it. In the file put: set GPU_MAX_ALLOC_PERCENT=100 set GPU_USE_SYNC_OBJECTS=1./cgminer --scrypt -o PoolUrl -u UserName.WorkerName -p Password -I 12 Save and close the file, then run it. Should be set.

Take a look at these scrypt mining tips if you’re having trouble following this brief tutorial. Mining Dogecoin with Linux or a VPS. Alternatively, if you prefer Linux or you don’t own any hardware you can rent out some from a VPS provider and follow these instructions: 1- Create a VPS account: then create a trial instance of 512 MB / 1 CPU with Ubuntu 13.04 (x64). 2- You will be emailed an IP address and password with instructions on how to SSH into your new instance.

Setup putty then login via SSH with your VPS login credentials. You can technically start mining on your own but I don’t recommend it. There’s not a particularly good chance of you getting anything done any time soon and I’ll explain why in a later section. So what you’re going to do instead is join a collection of other miners called a “pool.”AikaPool or EOBOT or Litecoinpool. As you can see, different pools have different rules and features, some include fees on your earnings, some offer automatic payout when you reach a certain amount of dogecoin, some offer manual payout at your leisure, some have payout fees, etc The differences are mostly negligible in all honesty, I’d recommend joining something that doesn’t have too hefty a withdrawal fee and has plenty of other workers. The choice is truly yours! Once you’ve picked your pool you’ll want to actually get set up.

Head to your pool’s homepage and create an account. How you do that will vary, look for “sign up” or “registration.” MPOS-design pools often have this on the left-side navigation. If your pool’s website asks for your wallet up-front you’ll want to be sure to get that part right. Head back to your wallet and go to the “Much Receive” tab. Click on your address. On the bottom of the page click “Copy Address.” Your address is now saved to your clipboard for convenient pasting into things like, say, an account registration page. If your pool’s website does not ask for that part up-front you’ll want to find where to enter this.

It’ll likely be under “Edit account” or similar. Once you have your account you’ll need to set up a “worker.” On an MPOS-design pool, you’ll navigate to “My Workers” on the left-side navigation to do so. Set up your worker with a name and password you can remember–you’ll need this later! Change your./minerd (Linux):./minerd --url stratum+tcp://server:port --userpass worker.name:password • In order to keep your sessions alive, use the command ‘screen’ before running ‘./minerd’. • When logging back again to restore your session use ‘screen -r’.

• You can specify a particular number of processor cores to use with the ‘-t N’ option where N is the number of cores you wish to dedicate, this may be useful if using your home computer to mine. Leaving out the ‘-t’ option uses all available cores by default. Set up your batch file (Windows): Starting your miner requires some configuration details that you don’t want to have to remember. For this reason we’re going to set up a batch file that launches your miner for you. In the same folder as your mining software make a.bat file.

Edit this file with notepad (or similar) and input the command-line command that runs your miner of choice. Launch your.bat file as an Administrator of your computer. If this works, great! Some users will have trouble running these batch files; if you’re one of them head to your Control Panel and enter “UAC” into the search bar. Turn this feature off. Scripts are our friends right about now!

At this point if your tool of choice spits out any output you’ll probably see some initialization text, maybe some syncing, or maybe “stratum from pool 0 detected new block”. That’s fine, this is all normal. Let your miner do its thing and enjoy the doge that it brings you! Head to your pool’s website to track your worker’s progress if you like.

Congrats, you’re finished! So where are my Dogecoins? Dogecoins are only paid out after each block is found. Each block is worth a random number up to one million Dogecoins. Your pool will automatically take those Dogecoins and pass them out to each member of the pool based on the number of shares they earned. Shares are earned by contributing to the pool.

If you contribute lots of computing power to the pool, you’ll get a lot of shares; if you contribute only a little computing power to the pool, you’ll only get a few shares. This keeps everything fair–those who do more will get more. You can track the computing power you’re contributing by tracking your hashrate. The pool’s hashrate is usually tracked too, it’s a good metric of everyone’s work combined to find the next block. The higher the pool hashrate, the quicker you’ll find that block, and the quicker everyone will get paid. Blocks get more and more difficult to find. It’s good to get started early!

Your pool likely tracks this estimated difficulty. Do note that the difficulty isn’t a perfect tell of how long it’ll take to find the block. Mining is very random: sometimes you’ll find a block right off the bat with only 5% of the estimated shares distributed and sometimes you’ll spend ages mining a block with 500% of the estimated shares distributed. That’s part of the fun! Think of mining as playing the lottery as a group where we all play and all agree to share the money if one of us wins.

Your pool will likely take a bit to verify the block after it has been found. Give your pool some time before you try to cash out. Mining cryptocoins is an arms race that rewards early adopters. You might have heard of Bitcoin, the first decentralized cryptocurrency that was released in early 2009. Similar digital currencies have crept into the worldwide market since then, including a spin-off from Bitcoin called Bitcoin Cash.

You can get in on the cryptocurrency rush if you take the time to learn the basics properly. Which Alt-Coins Should Be Mined? If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now.

At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs, not to mention the sheer mathematical difficulty of the process, just doesn’t make it profitable for consumer-level hardware. Now, Bitcoin mining is reserved for large-scale operations only. Litecoins, Dogecoins, and Feathercoins, on the other hand, are three Scrypt-based cryptocurrencies that are the best cost-benefit for beginners. At the current value of Litecoin, a person might earn anywhere from 50 cents to 10 dollars per day using consumer level mining hardware. Dogecoins and Feathercoins would yield slightly less profit with the same mining hardware but are becoming more popular daily. Peercoins, too, can also be a reasonably decent return on your investment of time and energy. As more people join the cryptocoin rush, your choice could get more difficult to mine because more expensive hardware will be required to to discover coins.

You will be forced to either invest heavily if you want to stay mining that coin, or you will want to take your earnings and switch to an easier cryptocoin. Is It Worth It to Mine Cryptocoins?

As a hobby venture, yes, cryptocoin mining can generate a small income of perhaps a dollar or two per day. In particular, the digital currencies mentioned above are very accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months. As a second income, no, cryptocoin mining is not a reliable way to make substantial money for most people. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000-$5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more. Set Reasonable Expectations If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion. If your objective is to make a few digital bucks and spend them somehow, then you just might have a slow way to do that with mining.

Smart miners need to keep electricity costs to under $0.11 per kilowatt-hour; mining with 4 GPU video cards can net you around $8.00 to $10.00 per day (depending upon the cryptocurrency you choose), or around $250-$300 per month. The two catches are 1) the up-front investment in purchasing 4 ASIC processors or 4 AMD Radeon graphic processing units, and 2) the market value of cryptocoins. Now, there is a small chance that your chosen digital currency will jump in value alongside Bitcoin at some point. Then, possibly, you could find yourself sitting on thousands of dollars in cryptocoins. The emphasis here is on ‘small chance’, with small meaning ‘slightly better than winning the lottery’. If you do decide to try cryptocoin mining, definitely do so as a hobby with a very small income return. Think of it as ‘gathering gold dust’ instead of collecting actual gold nuggets.

And always, always, do your research to avoid a scam currency. How Cryptocoin Mining Works Let’s focus on mining ‘scrypt’ coins, namely Litecoins, Dogecoins, or Feathercoins. The whole focus of mining is to accomplish three things: • Provide bookkeeping services to the coin network. Mining is essentially 24/7 computer accounting called ‘verifying transactions’.

• Get paid a small reward for your accounting services by receiving fractions of coins every couple of days. • Keep your personal costs down, including electricity and hardware. The Laundry List: What You Will Need to Mine Cryptocoins You will need ten things to mine Litecoins, Dogecoins, and/or Feathercoins. • A free private database called a coin wallet.

This is a password-protected container that stores your earnings and keeps a network-wide ledger of transactions. • A free mining software package, like this one from AMD, typically made up of cgminer and stratum. • A membership in an online mining pool, which is a community of miners who combine their computers to increase profitability and income stability.

• Membership at an online currency exchange, where you can exchange your virtual coins for conventional cash, and vice versa. • A reliable full-time internet connection, ideally 2 megabits per second or faster speed. • A hardware setup location in your basement or other cool and air-conditioned space. • A desktop or custom-built computer designed for mining. Yes, you may use your current computer to start, but you won’t be able to use the computer while the miner is running. A separate dedicated computer is ideal.

Tip: Do not use a laptop, gaming console or handheld device to mine. These devices just are not effective enough to generate income. • An ATI graphics processing unit (GPU) or a specialized processing device called a mining ASIC chip. The cost will be anywhere from $90 used to $3000 new for each GPU or ASIC chip. The GPU or ASIC will be the workhorse of providing the accounting services and mining work. • A house fan to blow cool air across your mining computer. Mining generates substantial heat, and cooling the hardware is critical for your success.

• Personal curiosity. You absolutely need a strong appetite for reading and constant learning, as there are ongoing technology changes and new techniques for optimizing coin mining results. The most successful coin miners spend hours every week studying the best ways to adjust and improve their coin mining performance. A Beginner’s Guide to Cryptocoin Mining. Mining cryptocoins is an arms race that rewards early adopters.

You might have heard of Bitcoin, the first decentralized cryptocurrency that was released in early 2009. Similar digital currencies have crept into the worldwide market since then, including a spin-off from Bitcoin called Bitcoin Cash. You can get in on the cryptocurrency rush if you take the time to learn the basics properly. Which Alt-Coins Should Be Mined? If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now.

At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs, not to mention the sheer mathematical difficulty of the process, just doesn’t make it profitable for consumer-level hardware.

Now, Bitcoin mining is reserved for large-scale operations only. Litecoins, Dogecoins, and Feathercoins, on the other hand, are three Scrypt-based cryptocurrencies that are the best cost-benefit for beginners. At the current value of Litecoin, a person might earn anywhere from 50 cents to 10 dollars per day using consumer level mining hardware. Dogecoins and Feathercoins would yield slightly less profit with the same mining hardware but are becoming more popular daily. Peercoins, too, can also be a reasonably decent return on your investment of time and energy. As more people join the cryptocoin rush, your choice could get more difficult to mine because more expensive hardware will be required to to discover coins.

You will be forced to either invest heavily if you want to stay mining that coin, or you will want to take your earnings and switch to an easier cryptocoin. Is It Worth It to Mine Cryptocoins? As a hobby venture, yes, cryptocoin mining can generate a small income of perhaps a dollar or two per day.

In particular, the digital currencies mentioned above are very accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months. As a second income, no, cryptocoin mining is not a reliable way to make substantial money for most people. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000-$5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more. Set Reasonable Expectations If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion. If your objective is to make a few digital bucks and spend them somehow, then you just might have a slow way to do that with mining. Smart miners need to keep electricity costs to under $0.11 per kilowatt-hour; mining with 4 GPU video cards can net you around $8.00 to $10.00 per day (depending upon the cryptocurrency you choose), or around $250-$300 per month. The two catches are 1) the up-front investment in purchasing 4 ASIC processors or 4 AMD Radeon graphic processing units, and 2) the market value of cryptocoins.

Now, there is a small chance that your chosen digital currency will jump in value alongside Bitcoin at some point. Then, possibly, you could find yourself sitting on thousands of dollars in cryptocoins.

The emphasis here is on ‘small chance’, with small meaning ‘slightly better than winning the lottery’. If you do decide to try cryptocoin mining, definitely do so as a hobby with a very small income return. Think of it as ‘gathering gold dust’ instead of collecting actual gold nuggets.

And always, always, do your research to avoid a scam currency. How Cryptocoin Mining Works Let’s focus on mining ‘scrypt’ coins, namely Litecoins, Dogecoins, or Feathercoins. The whole focus of mining is to accomplish three things: • Provide bookkeeping services to the coin network. Mining is essentially 24/7 computer accounting called ‘verifying transactions’.

• Get paid a small reward for your accounting services by receiving fractions of coins every couple of days. • Keep your personal costs down, including electricity and hardware. The Laundry List: What You Will Need to Mine Cryptocoins You will need ten things to mine Litecoins, Dogecoins, and/or Feathercoins. • A free private database called a coin wallet. This is a password-protected container that stores your earnings and keeps a network-wide ledger of transactions. • A free mining software package, like this one from AMD, typically made up of cgminer and stratum. • A membership in an online mining pool, which is a community of miners who combine their computers to increase profitability and income stability.

• Membership at an online currency exchange, where you can exchange your virtual coins for conventional cash, and vice versa. • A reliable full-time internet connection, ideally 2 megabits per second or faster speed. • A hardware setup location in your basement or other cool and air-conditioned space.

• A desktop or custom-built computer designed for mining. Yes, you may use your current computer to start, but you won’t be able to use the computer while the miner is running.

A separate dedicated computer is ideal. Tip: Do not use a laptop, gaming console or handheld device to mine. These devices just are not effective enough to generate income. • An ATI graphics processing unit (GPU) or a specialized processing device called a mining ASIC chip. The cost will be anywhere from $90 used to $3000 new for each GPU or ASIC chip. The GPU or ASIC will be the workhorse of providing the accounting services and mining work. • A house fan to blow cool air across your mining computer.

Mining generates substantial heat, and cooling the hardware is critical for your success. • Personal curiosity.

You absolutely need a strong appetite for reading and constant learning, as there are ongoing technology changes and new techniques for optimizing coin mining results. The most successful coin miners spend hours every week studying the best ways to adjust and improve their coin mining performance.